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Edition1 | Winter 2022/23
Our area goes from strength to strength. Over the past decade the number of households has increased by over 4,500. New build developments have proved beneficial to the wider property market and the resale market has seen price growth of 57% over the past decade.
Last 10 years
| 21% Population increase |  |
| +4,600 Household increase |  |
| 45% Property price increase (all) |  |
| +3,800 New homes |  |
London has time and time again proved its resilience, whatever the economic context. While price corrections are forecast for 2023, JLL forecast London will see 13.9% cumulative growth 2023–2027 (average 2.6% per year).
Regeneration is a catalyst for house price growth and as a result we expect our area to outperform the London market. Property price growth in regeneration areas outperforms the wider market by an additional 3.1% per annum. Our local population is set to increase by 20% over the next ten years, to over 100,000 people.
Projected price growth per annum in Greater London 2023–2027
JLL
Outperformance in regeneration areas compared to wider locality
Dataloft, based on analysis of London Opportunity Areas
Population increase in next 15 years
Dataloft, GLA (2021-2036)
Confidence in our area is strong, as demonstrated by the strong pipeline of development.
Located just 15 minutes from central London, unsurprisingly our rental market is buoyant. Average monthly rental prices have risen 18.2% in the last year, outpacing the wider London market. Indicative gross yields are attractive and price performance in the rental market is set to outpace the sales market in the coming years.
Close to 9 in 10 properties let are apartments, with our area offering a good mix of both new build and traditional. New build* apartments attract a price premium of 10%, the equivalent of an additional £184 per month. Over a third of apartments let in the last year have been new build.
*based on new dwellings inspected since 2012
| Average monthly rent | % of properties let | |
|---|---|---|
| Studio | £1,363 | 4% |
| 1-bed apartment | £1,625 | 35% |
| 2-bed apartment | £1,894 | 38% |
| 3+ bed apartment | £2,379 | 14% |
| House | £2,379 | 9% |
Dataloft, DRMA, based on properties let in last 12 months
Newly-released figures from the 2021 census show the number of households living in Surrey Quays and Canada Water has risen by more than 50% in the 20 years since 2001. On average, over the past decade 40% of all sales here have been new build.*
The story of this iconic area is now entering a new chapter. 2023 will see the launch of ‘The Founding’, the first phase of British Land’s once-in-a-generation reimagining of Canada Water. The Canada Water Masterplan is one of the largest and greenest development projects in the capital. Creating an energetic new focal point for jobs and leisure, it will attract a new generation of homeowners and renters to the area.
MP Estate Agents Ltd. Company number 12576693
2 Plough Way, London, SE16 2EU. VAT number 942264820
